Excelsior Springs Project Joint Venture Agreement Terminated
PRESS RELEASE 16-01
EXCELSIOR SPRINGS PROJECT JOINT VENTURE AGREEMENT TERMINATED
January 20, 2016 – Nubian Resources Ltd. (NBR:TSX.V) (the “Company”) announces that Paradigm Minerals USA Corporation “Paradigm” has not met the Exploration and Development Work Expenditures commitment by December 31, 2015, and has failed to meet its Earn-In-Obligation in the Excelsior Springs Project as per the March 1, 2011 Joint Venture agreement.
The Joint Venture has therefore been terminated and Paradigm has no retained or residual interest in the Excelsior Springs Project. Nubian Resources Ltd. owns 100% of the 140 claims of Excelsior Springs.
“Larry Treadgold”
Larry Treadgold CEO Nubian Resources Ltd
Office: (604) 870-4988 Jeannette Durand [email protected] Web Page: www.nubianr.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, beliefs or expectations regarding the future. Although the Company believes that any such intentions, plans, estimates, beliefs and expectations in this news release are reasonable, there can be no assurance that any such intentions, plans, beliefs and expectations will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements. Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. The Company assumes no obligations to update any forward looking statements, whether as a result of new information, future events or otherwise.